MUNICIPAL INSURANCE
A SUCCESSFUL TEAR. A report by the town clerk on the operations of the insurance fund for tho year ended March 31, 1923, shows a very satisfactory position, the advance in tho accumulated fund for tho year being £5,150 5s Id. Premiums paid during the year amounted to £4,910 7s Bd, and tho amount paid for claims was £1,330 5s 3d, while tho fund earned £1,570 2s 8d in interest. There is a contingent liability in connection with tho unfortunate death at the Southern Reservoir, and after allowing for this the net surplus for the year will be in round figures £4,375. After deducting the £IO,OOO that was set aside to form the nucleus of the fund, together with compound interest on that amount at 5 per cent., tho fund is still approximately £IB,OOO to the good for the six years' working, or a clear gain of an average of £5,000 per year. At March 31, 1923, the accumulated fund stood at £30,063 11s lOd.
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Bibliographic details
Evening Star, Issue 18257, 23 April 1923, Page 8
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167MUNICIPAL INSURANCE Evening Star, Issue 18257, 23 April 1923, Page 8
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